Daily Current Affairs / RBI lifts loan ban on UCO Bank
Category : Business and economics Published on: September 10 2021
· The Reserve Bank of India has taken public sector lender UCO Bank out of the Prompt Corrective Action (PCA) framework on improving financial and credit profiles.
· This decision gives more freedom to the bank to lend, especially to corporations, and to develop the network subject to the prescribed norms.
· The Kolkata-based lender was placed under PCA in May 2017 due to high net net-performing assets (NPA) and negative return on assets (ROA).
Important facts
About RBI
v Governor: Shaktikanta Das
v Headquarters: Mumbai
v Founder: British Raj
v Founded: 1 April 1935, Kolkata
India's household debt rises to 23.9% of GDP in FY25, signaling post-pandemic financial stress.
Read More....PM Modi distributes over 51,000 appointment letters at 15th Rozgar Mela across 47 locations.
Read More....India and Bhutan hold the 6th Joint Group of Customs Meeting in Thimphu on April 24–25, 2025.
Read More....Cheetah Nirva gives birth to five cubs at Kuno, raising India’s cheetah count to 31.
Read More....Indian companies send goods worth ₹85,000 crore annually to Pakistan via Dubai, Singapore, bypassing restrictions.
Read More....India signs agreement with France for 26 Rafale-Marine aircraft for Navy.
Read More....Delhi launches ₹10 lakh free health cover under Ayushman Vay Vandana for citizens aged 70+.
Read More....Karnataka-based humanitarian Madhusudan Sai receives Fiji’s highest civilian award.
Read More....President Droupadi Murmu confers Padma Awards to 71 achievers, including Shekhar Kapur and R. Ashwin.
Read More....Start-up ‘Sarvam’ to build India’s first AI large language model under ₹10,370 crore IndiaAI Mission.
Read More....
